Real Money

NEW YORK, Nov. 29, 2016 /PRNewswire/ -- The global mist eliminator market is projected to grow at a CAGR of 5.3% from 2016 to 2026"The global mist eliminator market is projected to reach USD 1,152.4 million by 2021, at a CAGR of 5.3% from 2016 to 2026. Government regulations to control the emissions of toxic emissions from the oil & gas, desalination, power generation, and petrochemical industries is propelling the growth of this market. However, since 2014, the upstream oil industry has witnessed a drastic fall in drilling operations across the world. This has led to reduced demand for mist eliminators from one of its largest end-user segment, oil & gas, inhibiting the growth of the mist eliminator market.

"Oil & gas is the largest end user segment in the global mist eliminator market" The oil & gas segment accounted for the largest share of the global mist eliminator market in 2015. Converting crude oil to useable energy resource is responsible for toxic emission. Hence, it becomes imperative for associated industries to install mist eliminators to limit their emission. Moreover, power generation is also a key end user of mist eliminators due to establishment of coal-fired plants in various emerging economies of Southeast Asia like China and India. Regulations imposed for the control of air pollution are gradually becoming stringent around the world, and this in turn, will create opportunities for the installation of mist eliminators in industrial plants.